On my reading Morgans have set up a line of credit against that...

On my reading Morgans have set up a line of credit against that amount of stock. Presumably to fund the cost of acquiring any of the potential shortfall that isn't covered by sub underwriting. I guess once they are able to sell the stock on market they will repay the loan.

Hopefully with the balance sheet restructured there will be a kick to the price and they will be in profit and we will all be happy.